HighTower Advisors LLC Reduces Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

HighTower Advisors LLC lowered its position in Cannae Holdings, Inc. (NYSE:CNNE) by 9.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 34,894 shares of the company’s stock after selling 3,535 shares during the period. HighTower Advisors LLC owned 0.06% of Cannae worth $663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNNE. Driehaus Capital Management LLC purchased a new position in Cannae during the second quarter worth approximately $18,611,000. AREX Capital Management LP raised its holdings in shares of Cannae by 52.2% during the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after acquiring an additional 432,260 shares during the period. FMR LLC raised its holdings in shares of Cannae by 17.6% during the 3rd quarter. FMR LLC now owns 2,653,854 shares of the company’s stock worth $50,582,000 after acquiring an additional 397,352 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Cannae by 45.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 723,992 shares of the company’s stock valued at $13,133,000 after acquiring an additional 225,161 shares during the last quarter. Finally, Rubric Capital Management LP grew its holdings in shares of Cannae by 17.8% in the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after purchasing an additional 216,031 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Down 0.1 %

Shares of Cannae stock opened at $19.69 on Friday. The stock has a 50 day moving average of $20.30 and a 200 day moving average of $19.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -4.09 and a beta of 0.85. Cannae Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $22.99.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The firm had revenue of $113.90 million during the quarter, compared to the consensus estimate of $105.67 million. During the same period last year, the company earned ($2.18) EPS. The company’s quarterly revenue was down 20.7% on a year-over-year basis. As a group, research analysts predict that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is -9.98%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their target price on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.